Year 12s: what will be the first way you research your future options? >>

Can you help me answer this Hypothesis testing question ?

A debt agency is concerned about the anecdotal evidence that the level of debt people have on credit cards is increasing. They undertook a pilot study in which 22 households were interviewed. The study found that the average credit card debt was £931 with a sample standard deviation of £207. Previous national studies had found that the mean credit card debt was £875.

a)Is there evidence to suggest that the average credit card debt has increased? Use a 5% level of significance.

I really dont understand this topic , please give me a worked solution

Reply 1

TSR Learn Together

Official Rep

Hey there. While you're waiting for a reply to your post, we thought we'd give your thread a timely bump.

But don't twiddle your thumbs in the meantime! Kick off your revision and study time by heading to our Learn Together section.

In Learn Together, you'll find interactive study tools to help make your revision quicker and easier. We've also got thousands of handpicked assignments analysed by great teachers, so you can learn from top-marked work. And there's tons more too: get started on Learn Together now!